Constellation Acquisition Corp I · OTC:CSTAF
Constellation Acquisition Corp I — SPAC Merger (December 2025)
33 slides from Constellation Acquisition Corp I's SPAC merger presentation, Dec 18, 2025
Slide 1: Securing America's Lithium Supply
INVESTOR PRESENTATION December 2025 Securing America’s Lithium Supply
Slide 2: U.S. Disclaimers: Basis of Presentation
INVESTOR PRESENTATION | 2 U.S. Disclaimers Basis of Presentation This confidential presentation (together with oral statements made in connection herewith, the “Presentation Materials”) are provided for informational purposes only and have been prepared to assist interested parties in making their o
Slide 3: U.S. Disclaimers Continued: Forward-Looking Statements
INVESTOR PRESENTATION | 3 U.S. Disclaimers Continued Forward - Looking Statements Continued ( 9 ) the ability of NewCo to issue equity or equity - linked securities in the future ; ( 10 ) the outcome of any legal proceedings that may be instituted against the Contracting Parties ; ( 11 ) changes to
Slide 4: U.S. Disclaimers Continued: Important Information and Where to Find It
INVESTOR PRESENTATION | 4 U.S. Disclaimers Continued Important Information and Where to Find It In connection with a Potential Business Combination, Constellation, Jindalee , the Company and NewCo are expected to prepare a registration statement on Form S - 4 (the “Registration Statement”) to be fil
Slide 5: Australian | Non-U.S. Disclaimers
INVESTOR PRESENTATION | 5 Australian | Non - U.S. Disclaimers These Presentation Materials have been prepared by the Contracting Parties to assist interested parties in making their own evaluation with respect the “Potential Business Combination” . These Presentation Materials provide general backgr
Slide 6: Today's Speakers
INVESTOR PRESENTATION | 6 Today’s Speakers Ian Roger CEO Lindsay Dudfield Executive Director Martyn Buttenshaw Advisor HITECH MINERALS INC. CONSTELLATION ACQUISITION CORP. Matt Haas VP Studies & Development Chandra R. Patel Chairman & CEO Jarett Goldman CFO INVESTOR PRESENTATION | 6
Slide 7: Antarctica Capital SPAC Sponsor Overview
INVESTOR PRESENTATION | 7 Antarctica Capital SPAC SPONSOR OVERVIEW Specialized in Private Markets, Real Assets, and Insurance Extensive Experience in Private, Growth Equity, and SPAC Transactions Global Presence with headquarters in New York Decades of Experience Advising and Investing in Companies
Slide 8: Strategic U.S. Lithium Asset Positioned for Success
INVESTOR PRESENTATION | 8 Strategic U.S. Lithium Asset Positioned for Success Aligned with U.S. Government Critical Minerals Priority One of first ten FAST - 41 transparency projects 1 Partnered with DOE (Department of Energy) to advance domestic lithium supply 2 US Elemental McDermitt Project: Well
Slide 9: Why Now: U.S. Drive to Secure Domestic Lithium Supply
INVESTOR PRESENTATION | 9 Why Now: U.S. Drive to Secure Domestic Lithium Supply A MAJOR GLOBAL SUPPLIER U.S. STRATEGIC PRIORITY China controls ~70% Of global lithium processing 1 >90% Of LFP battery production capacity 1 U.S. imports 75%+ Of lithium - ion batteries (considered by many to be a nation
Slide 10: Accelerating Tailwinds for Global and Domestic Lithium Demand
INVESTOR PRESENTATION | 10 Accelerating Tailwinds for Global and Domestic Lithium Demand 1. White House: https://www.whitehouse.gov/presidential - actions/2025/03/immediate - measures - to - increase - american - mineral - production/ 2. White House: https://www.whitehouse.gov/articles/2025/04/trump
Slide 11: Momentum Driving Investor Demand for U.S. Critical Minerals Exposure
INVESTOR PRESENTATION | 11 Momentum Driving Investor Demand for U.S. Critical Minerals Exposure Executive Order signed March 20, 2025: “Immediate Measures to Increase American Mineral Production ” 1 Significantly increased tariffs on Chinese lithium - ion batteries 2 Lithium designated as a “critica
Slide 12: AI's Power Surge & The Role of Lithium
INVESTOR PRESENTATION | 12 AI’s Power Surge & The Role of Lithium ~3% by data centers in 2030 1 1.5% by data centers in 2024 1 Driven by unprecedented growth in computing power, storage needs, and AI model training 2 Data centers are anticipated to see a 15% growth in electricity consumption every y
Slide 13: FAST-41: US Elemental McDermitt Project Policy Advantage
INVESTOR PRESENTATION | 13 FAST - 41: US Elemental McDermitt Project Policy Advantage What is FAST - 41 A U.S. federal framework intended to streamline permitting for projects of national strategic importance by • Improving transparency, predictability, and interagency coordination • Listing project
Slide 14: McDermitt Caldera Expected to be Premier U.S. Lithium Resource
INVESTOR PRESENTATION | 14 McDermitt Caldera Expected to be Premier U.S. Lithium Resource Potentially one of the world’s largest known accumulations of lithium mineralization , with potential for mining and processing to produce American made battery grade lithium carbonate 1 US Elemental’s McDermit
Slide 15: Potential Magnesium Upside From the US Elemental McDermitt Project
INVESTOR PRESENTATION | 15 Potential Magnesium Upside From the US Elemental McDermitt Project If viable, this strategic by - product opportunity would position US Elemental McDermitt Project to contribute to U.S. domestic primary magnesium supply alongside battery grade lithium carbonate 1. U.S. DOE
Slide 16: McDermitt Project Milestones: Accelerating Path to Commercialization
INVESTOR PRESENTATION | 16 McDermitt Project Milestones: Accelerating Path to Commercialization 2018 Confirmed extensive lithium mineralization at McDermitt (this area had never been explored for lithium before) 1 2019 - 2020 Metallurgical test work confirmed excellent lithium recoveries 5 and new c
Slide 17: Attractive Project Economics
INVESTOR PRESENTATION | 17 Attractive Project Economics Post Tax / NPV (8%) 2 $3.23B Post Tax / IRR 2 17.9% EBITDA Margin Over the First 10 Years of Production 2 66% Bottom Half of Cost Curve 2 $8,080/t LCE Lithium Carbonate for First Decade 2 47,500 tpa Economic Evaluation Period, Total Project Lif
Slide 18: Merging for Momentum: Positioning McDermitt Project for Success
INVESTOR PRESENTATION | 18 Merging for Momentum: Positioning McDermitt Project for Success Proposed business combination and U.S. Listing of US Elemental is expected to unlock direct access to U.S. institutional investors, enhance policy momentum, and maximize U.S. government funding potential • Pro
Slide 19: Illustrative Transaction Overview
INVESTOR PRESENTATION | 19 Illustrative Transaction Overview 1 Key Highlights • $500M target valuation 1 • Transaction contemplates capital raise of $20 - 30M, with $4M to be committed by affiliates of Antarctica Capital • $15M of net cash on the pro forma balance sheet after transaction expenses •
Slide 20: US Elemental Pro Forma Valuation
INVESTOR PRESENTATION | 20 US Elemental Pro Forma Valuation $573M Target Enterprise Value PEER COMPARISON 1 US ELEMENTAL MCDERMITT PROJECT EXPECTED NPV 2 • Assumes purchase price on a cash - free, debt - free basis • $25M target capital raise • $15M PF Net Cash $3.23B NPV (8%) of McDermitt • 17.9% p
Slide 21: Thank You
INVESTOR PRESENTATION | 21 Thank You Ian Rodger Chief Executive Officer Ian@uselemental.com
Slide 22: Appendix
INVESTOR PRESENTATION | 22 Appendix 1
Slide 23: Lithium Market Already Positioned for Structural Supply Deficit
INVESTOR PRESENTATION | 23 Lithium Market Already Positioned for Structural Supply Deficit - 10 20 30 40 50 -100 -50 - 50 100 150 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 Market Balance (LHS) Lithium Carbonate Price (RHS) LCE (Kt) Battery Grade Li Carbonate CIF Asia (US$/t) FORECA
Slide 24: Near-Surface Ore with Stable Mining Profile
INVESTOR PRESENTATION | 24 Near - Surface Ore with Stable Mining Profile 1 1. Jindalee Lithium: https://investorhub.jindaleelithium.com/announcements/6637448 Conventional truck & shovel mining Amenable to bulk mining methods Near - surface ore Stable mining Free dig mining Potential magnesium upside
Slide 25: Processing Route Validated Through Testwork
INVESTOR PRESENTATION | 25 Processing Route Validated Through Testwork 1 1. Jindalee Lithium ASX News Release: https://cdn - api.markitdigital.com/apiman - gateway/ASX/asx - research/1.0/file/2924 - 02882493 - 6A1238245&v=undefined 2. Jindalee Lithium ASX News Release: https://cdn - api.markitdigita
Slide 26: Unlocking McDermitt: Strategic Feasibility Roadmap
INVESTOR PRESENTATION | 26 Unlocking McDermitt: Strategic Feasibility Roadmap Delivery of high - quality Feasibility Study with project and operational plans that are environmentally/socially sound and able t o secure permits in reasonable timelines, practically executable, and deliver strong busine
Slide 27: McDermitt Reserve and Resource Tables
INVESTOR PRESENTATION | 27 McDermitt Reserve and Resource Tables McDermitt Project Mineral Resource Estimate (2023) 1 Indicated and Inferred Resource Inferred Resource Indicated Resource Cut - off Grade (ppm Li) LCE (Mt) Li Grade (ppm) Tonnage (Mt) LCE (Mt) Li Grade (ppm) Tonnage (Mt) LCE (Mt) Li Gr
Slide 28: McDermitt Comparison with Thacker Pass
INVESTOR PRESENTATION | 28 McDermitt Comparison with Thacker Pass Owners Thacker Pass (Updated Project Plan January 2025) 1,2,3,9,10 McDermitt Project PFS (November 2024) 4,5,8 Category 65% 64% EBITDA Margin Financial $8,039/t $8,673/t (Defined as C1 cash costs) Operating Cash Cost $8,691M $3,229M N
Slide 29: Peer Comparison Data: North American Lithium Deposits
INVESTOR PRESENTATION | 29 Peer Comparison Data: North American Lithium Deposits Source Contained LCE (Mt) 1 Cut - Off (ppm Li and % LiO2) Grade (ppm Li and % LiO2) Resource (Mt) Resource Category Stage Owner Deposit Company Website – Resource Update 2025 2 Link 8.0 858 ppm 2,680 ppm 561 Measured Co
Slide 30: Appendix
INVESTOR PRESENTATION | 30 Appendix 2
Slide 31: Risk Factors
INVESTOR PRESENTATION | 31 Risk Factors All references to the “company,” “we,” “us” or “our” refer to Jindalee Lithium Limited (“ Jindalee ”) and HiTech Minerals, Inc. (the “Company”) and their consolidated entities prior to the Potential Business Combination, and for periods following the closing o
Slide 32: Risk Factors: Legal, Compliance and Regulations
INVESTOR PRESENTATION | 32 Risk Factors Risks Related to Legal, Compliance and Regulations • If we receive federal monies, we could become subject to additional federal regulations. This could delay timing and increase costs. • We will be required to obtain governmental permits and approvals to cond
Slide 33: Risk Factors: Constellation and the Potential Business Combination
INVESTOR PRESENTATION | 33 Risk Factors Risks Related to Constellation and the Potential Business Combination • Constellation, Jindalee , the Company and NewCo may not enter into a binding or definitive agreement relating to the Potential Business Combination, and even if they do, the conditions to
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